Elbit Systems Ranked "Best Government Contractor Ethics Program for a Foreign Supplier" By Ethisphere Institute
April 02 2008 - 12:19PM
PR Newswire (US)
New Ranking of Government Contractors' Ethical Policies Released
HAIFA, Israel, April 2 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ:ESLT) has been listed as the top ranked "Best Government
Contractor Ethics Program for a Foreign Supplier" for its ethics
and compliance initiatives in the 2008 Government Contractor Ethics
Program Ratings recently released by the Ethisphere Institute.
"Ethics programs for foreign contractors must be examined in
context as often times they are not subjected to the same legal and
regulatory pressures as domestic U.S.-based contractors are exposed
to. Thereby to have certain foreign contractors to have scored as
highly as they did is particularly impressive," said Robert Leffel,
associate director of Ethisphere Institute, who oversaw the
government contractor ethics program research effort. Researchers
from the Ethisphere Institute analyzed more than 1,000 federal
government contractors as part of the 2008 ratings. The ratings
take into account new Federal Acquisition Regulation (FAR) rules
regarding U.S. government contractors' ethics programs, key Federal
Sentencing Guidelines "hallmarks" for effective compliance programs
and industry best practices. The Institute scored companies based
on their ethics programs, which were reviewed through an online
questionnaire, along with information voluntarily provided by the
participants. Quality assurance of responses were verified through
random audit and review. The Institute's rankings were based on an
objective analysis of four categories: - Code of ethics and
business conduct - Leadership and tone from the top - Internal
control systems - Ethics training and communication programs
"Oftentimes, government contractors are portrayed in a negative
light in the news because of a few bad apples' actions," said Alex
Brigham, executive director of the Ethisphere Institute. "While
there are some contractors to whom ethics means little, we have
found that there are many more who rightfully pride themselves on
their ethical business practices." Mr. Brigham added: "In
undertaking this exhaustive research and ranking we have found the
opportunity to highlight companies that have taken proactive
measures to implement the proper controls, culture and programs to
communicate company values and prevent unethical behavior. They
should be a shining example to others in the industry." David Block
Temin, Elbit Systems' Executive Vice President, Chief Legal Officer
and Chief Compliance Officer commented, "We were pleased to have
our ethics practices so highly ranked by the Ethisphere Institute's
Government Contractor Ethics Program review. This recognition
underscores Elbit Systems long-standing commitment to ethics as a
cornerstone of our corporate culture, Company-wide policies and
business practices." About Elbit Systems Elbit Systems Ltd. is an
international defense electronics company engaged in a wide range
of defense-related programs throughout the world. The Company,
which includes Elbit Systems and its subsidiaries, operates in the
areas of aerospace, land and naval systems, command, control,
communications, computers, intelligence surveillance and
reconnaissance ("C4ISR"), unmanned air vehicle (UAV) systems,
advanced electro-optics, electro-optic space systems, EW suites,
airborne warning systems, ELINT systems, data links and military
communications systems and radios. The Company also focuses on the
upgrading of existing military platforms and developing new
technologies for defense, homeland security and commercial aviation
applications. About The Ethisphere Institute The Ethisphere
Institute, with the support of its keystone partners LexisNexis,
the Practising Law Institute, Red Flag Group, the National
Association of Corporate Directors, Trace International, the Global
Reporting Initiative, Corpedia, and associated membership group,
the Ethisphere Council, was founded in 2006. Dedicated to the
research, creation, and sharing of best practices in business
ethics, compliance, sustainability, and corporate governance and
citizenship, the Council is comprised of over 200 institutions and
corporations, including Deutsche Telekom, Time Warner, Avaya and
Kraft. Ethisphere Magazine is the quarterly publication of the
Institute, created to illuminate the important correlation between
ethics and profits. The motto of the Institute is "Good. Smart.
Business. Profit." and more information on membership can be found
at http://www.ethisphere.com/. This press release contains
forward-looking statements (within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended) regarding Elbit
Systems Ltd. and/or its subsidiaries (collectively the Company), to
the extent such statements do not relate to historical or current
fact. Forward Looking Statements are based on management's
expectations, estimates, projections and assumptions.
Forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
as amended. These statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict. Therefore, actual future results, performance
and trends may differ materially from these forward-looking
statements due to a variety of factors, including, without
limitation: scope and length of customer contracts; governmental
regulations and approvals; changes in governmental budgeting
priorities; general market, political and economic conditions in
the countries in which the Company operates or sells, including
Israel and the United States among others; differences in
anticipated and actual program performance, including the ability
to perform under long-term fixed-price contracts; and the outcome
of legal and/or regulatory proceedings. The factors listed above
are not all-inclusive, and further information is contained in
Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on
file with the U.S. Securities and Exchange Commission. All
forward-looking statements speak only as of the date of this
release. The Company does not undertake to update its
forward-looking statements. Contacts: Company Contact: Joseph
Gaspar, Corporate VP & CFO Dalia Rosen, Director of Corporate
Communications Elbit Systems Ltd Tel: +972-4-8316663 Fax:
+972-4-8316944 E-mail: IR Contact: Ehud Helft / Kenny Green G.K.
Investor Relations Tel: 1-646-201-9246 Fax: +972-3-607-4711 E-mail:
DATASOURCE: Elbit Systems Ltd CONTACT: Contacts: Company Contact:
Joseph Gaspar, Corporate VP & CFO, Dalia Rosen, Director of
Corporate Communications, Elbit Systems Ltd, Tel: +972-4-8316663,
Fax: +972-4-8316944, E-mail: , ; IR Contact: Ehud Helft / Kenny
Green, G.K. Investor Relations, Tel: 1-646-201-9246, Fax:
+972-3-607-4711, E-mail:
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